UK and European stocks traded higher amid a swathe of earnings reports and expectations of an imminent U.K.-U.S. trade deal.

US Stocks were higher after President Donald Trump announced that a trade deal between the U.S. and United Kingdom had been struck.

Asia-Pacific markets were mostly higher after the U.S. Federal Reserve expectedly kept rates unchanged.

Oil prices steadied after falling more than $1 in the previous session as uncertainty over the outcome of trade talks between the U.S. and China, the world’s two largest oil consumers, weighed on investor sentiment.

Gold prices fell, reversing earlier gains, as U.S. President Donald Trump announced a trade deal with Britain, easing trade tensions and reducing the precious metal’s appeal as a safe-haven investment.

In equity markets, IMI was the standout performer on the FTSE 010 as the engineering firm reaffirmed its guidance for the full year.

Renishaw surged as it narrowed its full-year revenue and profit guidance and said it was entering the final quarter of the year with "good momentum".

Fashion and homeware retailer Next nudged up as it lifted annual profit guidance after reporting forecast-busting first-quarter sales, citing warmer weather which boosted purchases of summer clothing, but held annual estimates of flat revenues.